37
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$4,495,000
Est. payment /mo
12 Beds
18 Baths
16,926 SqFt
Price Dropped by $155K
7063 Lanewood AVE Los Angeles, CA 90028
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 16,926 sqft
Price per Sqft $265
MLS Listing ID 26660933
Bedrooms 12
HOA Y/N No
Year Built 1930
Lot Size 8,751 Sqft
Property Description
7063 Lanewood Avenue is a multifamily apartment building located in the heart of Central Hollywood, one of Los Angeles' most transit-rich, high-demand rental submarkets. Situated just steps from the Hollywood/Highland Metro station and within immediate proximity to Hollywood Boulevard, Sunset Boulevard, and the 101 Freeway, the property offers tenants an unmatched combination of walkability, urban convenience, and connectivity to major entertainment, employment, and lifestyle corridors. The surrounding area includes Runyon Canyon, the Hollywood Bowl, and a dense concentration of dining, nightlife, and retail, all of which contribute to sustained, year-round rental demand from a deep and diverse tenant pool. Central Hollywood is characterized by limited developable land, significant barriers to new construction, and a persistently undersupplied rental market conditions that support long-term rent growth and asset appreciation.The property is an 18-unit Mediterranean-style apartment building comprising approximately 16,926 square feet of improvements on an 8,750-square-foot lot. The unit mix consists of six studio units and twelve one-bedroom / one-bath units a tenant-friendly configuration well suited to the young professionals, creatives, and entertainment industry workers who drive rental demand in this submarket. The building is fully occupied, providing a stabilized income stream with upside potential as future turnover allows rents to be brought to market over time. With a Walk Score of 95, a premier Hollywood address, and a proven rental profile in a supply-constrained corridor, 7063 Lanewood Avenue represents a compelling opportunity to acquire a well-located, fully leased multifamily asset with long-term appreciation potential in one of Los Angeles' most iconic and consistently in-demand residential neighborhoods.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LAR4
Interior
Heating Electric
Cooling Wall/Window Unit(s)
Fireplace No
Laundry None
Exterior
Parking Features None
Building
Entry Level Three Or More
Architectural Style Spanish
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 5548012006
Special Listing Condition Standard
Listed by Michael Monempour Lyon Stahl Investment Real Estate, Inc. #01996829